The first time I exported a file, it saved at 3.31 GB. I opened it back up to make some minor modifications in the order of clips and now it saves at 6.08 GB. Must've changed some setting inadvertantly but can't figure out what. Both videos were exported at the same settings on the 'Export and Share' screen. Please let me know how to get the file back to a reasonable size.
The export preset resolution/framerate and quality (bitrate) could be different for the two exports or the project setting might be different. When you imported the exported file back into Premiere Elements, the project setting will change to match the this video.